Recent reports suggest that Facebook might roll out an in-store mobile payment option on its Messenger app, which the company is currently upgrading. As the social media site inches closer to the 1 billion user mark, the company may be planning to make messenger an “Everything App” which will ensure that users can access a broad range of services and businesses. The company recently announced a partnership with KLM airlines that will allow KLM customers to receive flight confirmations, boarding passes, reminders and flight status updates directly through Facebook’s Messenger App. While CEO Mark Zuckerberg mentioned on the recent earnings call that the company is not a payments business, Messenger allows users to transfer funds to their friends, and recent reports suggest that changes in the app’s code may expand Messenger as a payments tool. While Facebook would face intense competition from players such as Apple Pay and Android Pay in the mobile payments space, Messenger’s expanding utility for other functions could put it in an advantageous position and generate a new revenue stream for Facebook.
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